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  • The dollar's supremacy in global trade faces fresh challenges as several countries float plans to use local currencies in commerce. 
  • Russia and Iran are working to create a gold-backed stablecoin, while France has pursued a trade deal with China in yuan. 
  • Here are 6 rising challenges to the greenback's dominance of international trade and investment flows.

The dollar's dominance of global trade and investment flows is facing a slew of new threats as more and more countries draft plans to boost the use of alternative currencies.

For some time now, nations from China and Russia to India and Brazil have been pushing for settling more trade in non-dollar units – with projects ranging from the use of local currencies to a gold-backed stablecoin and a new BRICS reserve currency.